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melissa: most people would it take setting up shop in this economy is no easy feat, especially in a tough environment like new york city, but wall street's newest shoeshine shop is offering its most female clientele a combination of the looks and a little elbow grease. this guy is a genius. ticket out. ♪ >> our business model is blt on a female staff giving shoeshines. lots of financial people down here. quite stressful jobs. you walk away from the job to go into that shoeshine. you wanted to talk to somebody, sit down at converse of them. >> the dow want to talk of money or whatever is going on. and most of us don't know about the stuff, so i gue that's a good thing. >> we greek people of the door. we helped them off. that doesn't happen that every shoeshine place. ♪ we have college students, almost and actresses. >> really positive. working here is really great. >> of come back about four times. this is a better experience. butterflied. have a good time when they're here. melissa: a genius business plan. our "spare change" guests are here a lite early. i think maybe we did not she doesrom the r
melissa: most people would it take setting up shop in this economy is no easy feat, especially in a tough environment like new york city, but wall street's newest shoeshine shop is offering its most female clientele a combination of the looks and a little elbow grease. this guy is a genius. ticket out. ♪ >> our business model is blt on a female staff giving shoeshines. lots of financial people down here. quite stressful jobs. you walk away from the job to go into that shoeshine. you...
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May 7, 2013
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small business owners and people who use vehicles like this to move their toys or use it in a workplace environment, they are feeling confident. they are able to look at their old business finances or their household finances and say, "we are ready to reinvest, we are ready to get back in this business." maybe they have been putting off- it's time for another set of tires or breaks on their old truck, and they feel confident enough to go into it. secondly, it means that the banks are lending again. that is a big part of this. so, not only is there pent-up interest and demand from consumers, but the banks are there to help. - what are some areas of persistent weakness for gm? - i would think it is just some of the things we encountered during our bankruptcy process have slowed down some of the development and put some things kind of on ice while we went through that process. now that we are free and clear of that, i think it is pedal to the metal, so i think you are really going to see this new product really start to accelerate. we are going to be making our competitors move much faster than they w
small business owners and people who use vehicles like this to move their toys or use it in a workplace environment, they are feeling confident. they are able to look at their old business finances or their household finances and say, "we are ready to reinvest, we are ready to get back in this business." maybe they have been putting off- it's time for another set of tires or breaks on their old truck, and they feel confident enough to go into it. secondly, it means that the banks are...
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May 14, 2013
05/13
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i still use the terminal for the data, you know, we live in a data driven environment both socially and, you know, professionally and financially, and quite frngly, a little leery, always been leery, you think, you know, fire wall's in place prevent this, but this, in fact, took ace, it really is going to spell doomsday for the terminal users. melissa: scott, there's supposed to be a fire wall, and it seems like in so many cases, the fire wall is breached. did you feel differeny about the terminal or do anything differently? >> we felt differently here, we were app gri, you know, put so many things in plae, not letting me sign on, went away on vacation, somebody else these my fingerprints. it's so difficult to use your terminal here, an pay, by the way, $2,000 a month for it, n some cases more, but at the same time, they let willie nilly happen. that makes us angry. the other republican we're angry is we're frustrated without a viable alternative. you have to haveall the customers on it. we're just stuck. angry. we are looking for a response to ensure this doesn't happen again. melissa:
i still use the terminal for the data, you know, we live in a data driven environment both socially and, you know, professionally and financially, and quite frngly, a little leery, always been leery, you think, you know, fire wall's in place prevent this, but this, in fact, took ace, it really is going to spell doomsday for the terminal users. melissa: scott, there's supposed to be a fire wall, and it seems like in so many cases, the fire wall is breached. did you feel differeny about the...
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May 13, 2013
05/13
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what's your take on the regulatory environment today? you speak to a lot of emerging entrepreneurs. how do they see it? >> yeah, they see the public markets as incredibly hostile. at this point it's almost campfire stories of all the evil things that happen when you go public, it's story after story. unlike ghost stories, these are actually true stories. there's a true disincentive for entrepreneurs to take their companies public. the theory is either never take your company public or don't do it for as long as you can. i also want to add this is also true of established companies. and so i think this thing happening, for example, this week with jamie dimon is a great case in point which is you've got one of the great all-time ceos basically being attacked. and what i think is a completely inappropriate and self-destructive way. and so even the largest companies in corporate america are now coming under this level of fire. and it's even a disincentive for big companies to be public. >> it also could act as a destabilizer in some regard, but there's a balance there as well because pe
what's your take on the regulatory environment today? you speak to a lot of emerging entrepreneurs. how do they see it? >> yeah, they see the public markets as incredibly hostile. at this point it's almost campfire stories of all the evil things that happen when you go public, it's story after story. unlike ghost stories, these are actually true stories. there's a true disincentive for entrepreneurs to take their companies public. the theory is either never take your company public or...
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May 9, 2013
05/13
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have a pristine control environment, governor well, but it is a different set of issues. we don't talk about the volcker rule, we're not talking about those type of events. it's a processing company. so it is -- it takes a level of tension off that exists if you're in a financial institution today. >> you know, it's interesting. you were so complimentary to jamie a moment ago, and i'll get off this in a second, but i just came from a lunch of another competitor of his, who also said, he's running a machine, he's absolutely terrific, and yet, every day we hear, should he be splitting up chairman and ceo roles? are we in a moment in time where it doesn't really matter how good you are, what a good guy you are. we're at a moment in time where if you're a target, you're a target. >> i think that's 100%. if you look at jpmorgan's track record, jamie dimon's track record, the results, these are fabulous outcomes, great leader, it's a moment in time, has nothing to do -- it can be any person, even with those type of results. >> see, the idea here, though, i don't know that it's
have a pristine control environment, governor well, but it is a different set of issues. we don't talk about the volcker rule, we're not talking about those type of events. it's a processing company. so it is -- it takes a level of tension off that exists if you're in a financial institution today. >> you know, it's interesting. you were so complimentary to jamie a moment ago, and i'll get off this in a second, but i just came from a lunch of another competitor of his, who also said, he's...
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May 14, 2013
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environment. the system itself is secure, and you lay another level of security by putting it in the cloud. and that's secured in a very, very special way. so we can go in the public multi-tenant cloud or the private cloud, and our customers are going to get lightning speed and they're going to get to connect with their consumers, with total security from sap. >> but you understand the concerns about security. i mean, all these financial institutions in this country and elsewhere that have been hacked, these denial of service attacks that have gone on. i mean, where is all of this going and what are you guys doing to try -- are you trying to step up security as a result? can you ever stop it, you know, completely, these denial of service attacks, among others? >> hey, bill, you're absolutely right. security is one of the big things. and i gave an example today in my keynote, where a cto of a major bank actually has $10 million hack attempts against his systems per day. so you're never going to get
environment. the system itself is secure, and you lay another level of security by putting it in the cloud. and that's secured in a very, very special way. so we can go in the public multi-tenant cloud or the private cloud, and our customers are going to get lightning speed and they're going to get to connect with their consumers, with total security from sap. >> but you understand the concerns about security. i mean, all these financial institutions in this country and elsewhere that...
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they're very much concerned about their environment. they're very much concerned about the impact on the their local way of life in their communities e local unitsf government. they're intently concerned what this is going to mean to them. the upside obviously in our part of the state we are, we're looking for this economic development. we, you know, some of our counties specifically targeted in this area lead the state in unemployment, underemployment, a whole host of negative indicators. again we're very much interested in what could be developing for us here. adam: and steve, i mean nobody doubts the economic potential of fracking. north dakota has surpassed california in oil production? >> that's right. and alaska. adam: and alaska. that speaks volumes there. what do you say to the people who have concerns about potential harm to the environment? >> well, i'm not an environmental expert. in texas where he have they been doing fracking now for five years and are getting rich off it. by the way, adam, the average oil and gas job in te
they're very much concerned about their environment. they're very much concerned about the impact on the their local way of life in their communities e local unitsf government. they're intently concerned what this is going to mean to them. the upside obviously in our part of the state we are, we're looking for this economic development. we, you know, some of our counties specifically targeted in this area lead the state in unemployment, underemployment, a whole host of negative indicators....
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May 6, 2013
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especially in this kind of a low inflationary environment. >> is this still a cheap market for you at this point? >> well, it was. but now we're neutrally ranked. we were overweight equities. at this point, we don't think we're getting very well paid for taking on the risk. so what you're looking at here is you've been riding and surfing a wave of limquidity courtesy of all the global central banks. 80% of earnings have come in this quarter. revenues, down close to 1%. earnings up 4%. this is not one of these inflection points here where we would be overweight equities. we'd be moving up the quality spectrum at this point. >> what's up in the quality spectrum? >> you can look towards megacap technology stocks for good value where you can get consistently grown companies, consistently profitable and well capitalized with a lot of cash on their balance sheet. >> what about you, wayne? where do you come in on this conversation? >> i think he brings up a good point. the government has spent, what, close to $8 trillion worth of deficits. then on top of that the central banks in for $3 tril
especially in this kind of a low inflationary environment. >> is this still a cheap market for you at this point? >> well, it was. but now we're neutrally ranked. we were overweight equities. at this point, we don't think we're getting very well paid for taking on the risk. so what you're looking at here is you've been riding and surfing a wave of limquidity courtesy of all the global central banks. 80% of earnings have come in this quarter. revenues, down close to 1%. earnings up...
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May 9, 2013
05/13
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they've done a great job of navigating profits in a really tough revenue environment. sluggish growth, so they've done a good job. at the end of the day, the big risk here is a policy mistake, and that would be the fed beginning to taper too soon. i agree, i don't think that's going to happen. i don't think the fed is going to taper anytime soon. but i believe they're with us for a while. but i think they'll start hitting that a lot closer. >> qe is the policy mistake, not the taper. the policy is the policy mistake. come on! that's all we talk about is that, if you're looking at rubber duckies, whether they're pretty or ugly, when you fill up the bathtub, they all go up, isn't that what we always talk about? how could this be good policy? >> no doubt about it. you're talking about $85 billion a month is $118 million, you know, ends up, $118 million an hour. that's an enormous amount of policy. i got that, long-term, it's not good. but at the end of the day, that's what's helped this. but the zero interest rates, i agree, it's a danger. and i worry about the billion do
they've done a great job of navigating profits in a really tough revenue environment. sluggish growth, so they've done a good job. at the end of the day, the big risk here is a policy mistake, and that would be the fed beginning to taper too soon. i agree, i don't think that's going to happen. i don't think the fed is going to taper anytime soon. but i believe they're with us for a while. but i think they'll start hitting that a lot closer. >> qe is the policy mistake, not the taper. the...
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May 14, 2013
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the boom in natural gas helps us produce cheaper electricity as well and a better fossil fuel for the environment in terms of co2 emissions. >> indeed. natural gas now actually predated the oil. remember natural gas prices were well above oil prices 10 years ago but again, the market was allowed to respond. we responded to these high prices. we've got the supply, enough supply, 50, 100, 200 years, talking depending on geologist you talk to. we respond to that. natural gas prices now have crashed. the same thing happened in oil prices. melissa: we have got to go. >> a great boom for all of juice thank you. breaking news i want to get to. "wall street journal" is reporting that the ceo chairman split proposal is getting more than 40% approval right now. not all votes have been cast. the last votes will likely determine the outcome. we'll watch this story very closely the reason why we point out the 40% number, that is the mark they were at last year at this same question this same meeting of the it is a nonbinding proposal, but a lot of people have said if they get above 50 that is when the board i
the boom in natural gas helps us produce cheaper electricity as well and a better fossil fuel for the environment in terms of co2 emissions. >> indeed. natural gas now actually predated the oil. remember natural gas prices were well above oil prices 10 years ago but again, the market was allowed to respond. we responded to these high prices. we've got the supply, enough supply, 50, 100, 200 years, talking depending on geologist you talk to. we respond to that. natural gas prices now have...
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May 10, 2013
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. >> what do you think it's going to take to get the retail market to trust this environment get? way lower numbers in terms of retail participation this time versus what we saw before the crash. any thoughts on that? >> i think that the fed has to get out of the way. i think the people are very aware, anybody that you talk to on the street is simply saying, i don't believe in the market, as i don't. i have a very hard time trusting a market that has been directly correlated with fed intervention. if we can get the fed to back off and we start to see companies still do well, then i think the people will say, hey, maybe it's not a bad opportunity to start buying some of these longer term blue chip names that aren't just going to go out of business some day. >> that might be the catalyst -- i'm sorry, that might be the catalyst. but i think what really drives them into stocks again, is that they start to lose money in bonds. let's face it, they've been pouring money into the bond market for the last five years, on the idea that, well, it never goes down, right? if we start to see bo
. >> what do you think it's going to take to get the retail market to trust this environment get? way lower numbers in terms of retail participation this time versus what we saw before the crash. any thoughts on that? >> i think that the fed has to get out of the way. i think the people are very aware, anybody that you talk to on the street is simply saying, i don't believe in the market, as i don't. i have a very hard time trusting a market that has been directly correlated with...
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May 8, 2013
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we are not in that environment. good share purchases are still on cash. the credit conditions are still quite, quite tight. >> number three here, something we have heard from a lot of the home builders in their earnings call, construction costs are rising, raw material, building costs are rising, that is going to prevent, this notion is that this will prevent home building from actually increasing and going forward, they will have to pass those costs on. >> so? an obstacle for home building and i think one of the reasons there is some ceiling to how much further gain we can see in terms of total construction. but it's not something that will derail it. so we can still see an increase in housing construction, given the fundamentals are supporting it inventory is low. demand is pick up, home prices are heading higher, builders will have the ability to pass on some of the higher input cost, not all of them, but some. i think it's a headwind, of course, but does not prevent home builders from adding to construction. i would say that's fiction, too. >> michell
we are not in that environment. good share purchases are still on cash. the credit conditions are still quite, quite tight. >> number three here, something we have heard from a lot of the home builders in their earnings call, construction costs are rising, raw material, building costs are rising, that is going to prevent, this notion is that this will prevent home building from actually increasing and going forward, they will have to pass those costs on. >> so? an obstacle for home...
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May 10, 2013
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in light of the current low interest rate environment we are watching particularly closely in, quote, reaching for yield and other forms of excessive risk taking which may affect asset prices and their relationships with f.als. >> it's worth emphasizing that looking for unusual patterns can be useful even if you believe that asset markets are generally efficient in setting prices. for the purpose of safeguarding financial stability we are less concerned about whether a geffen asset price is justified in such average sense than in the possibility of a sharp move. asset prices that are far from historically normal levels would seem to be more susceptible to such destabilizing moves. from a financial stability perspective, in asset valuations is only the first step of the analysis. also to be considered are factors such as the leverage and degree of maturity being mismatched and used by the holder of the asset. the liquidity asset itself and the sensitivity of the asset's value to changes in broader financial conditions. differences in these factors help explain why the correction in equ
in light of the current low interest rate environment we are watching particularly closely in, quote, reaching for yield and other forms of excessive risk taking which may affect asset prices and their relationships with f.als. >> it's worth emphasizing that looking for unusual patterns can be useful even if you believe that asset markets are generally efficient in setting prices. for the purpose of safeguarding financial stability we are less concerned about whether a geffen asset price...
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May 6, 2013
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but as i just stated, that is very unlikely into a german election and into a political environment where any sort of austerity or plain talking about the future is impossible. i think both politicians are down to taking it almost day by day if not day by day, then week by week and that is the worst thing you can give for the small and medium sized enterprises, for the business as a whole. it's ironic that the business owners in their pension funds are buying a lot of stocks. but as business owners, they're not investing into their own business. i think they need to change back. >> it's still amazing for me to see how much of a recovery we've seen stateside in equities. we're not quite there in europe yet despite the fact that the data continues to be so weak. i just wonder how long is this discrepancy going to continue? is it going to continue throughout the rest of the year or are we going to wake up one day and say we need to show that in how we're trading the various asset classes? >> i think it's, of course, overtime. so either the economy will improve or the stock market will have t
but as i just stated, that is very unlikely into a german election and into a political environment where any sort of austerity or plain talking about the future is impossible. i think both politicians are down to taking it almost day by day if not day by day, then week by week and that is the worst thing you can give for the small and medium sized enterprises, for the business as a whole. it's ironic that the business owners in their pension funds are buying a lot of stocks. but as business...
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May 8, 2013
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is it the money that improves the economic environment eventually? >> is it a leading or lagging economic indicator? >> money flows downhill. is it justified because it eventually goes into the economy and helps. sooner or later qe might not be -- >> qe helped in a lot of places. it helped with housing. it helped a lot of other things out there. >> a lot of money that will help at some point. ten-year note at this point is probably the yield moving up a little bit almost back to 1.8%. and yesterday we heard people say if it moves up 200 or 300 basis points, it may be a problem. that would bring it back to 3% or 4% which over time was average. the dollar still didn't hit 100 on the yen and gold was down yesterday. it is up today. a nice rebound. it reminds me of apple under 400. gold under 1,400. time for global markets report. ross westgate is standing by in london. is manchester a big enough city that is where it's based? why is this news over here? we're put it in our headlines. in a cold open. who was this guy. he's a manager of a soccer team? >>
is it the money that improves the economic environment eventually? >> is it a leading or lagging economic indicator? >> money flows downhill. is it justified because it eventually goes into the economy and helps. sooner or later qe might not be -- >> qe helped in a lot of places. it helped with housing. it helped a lot of other things out there. >> a lot of money that will help at some point. ten-year note at this point is probably the yield moving up a little bit almost...
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>> i think what we need is a regulatory environment that makes it safe for private capital to come back into the market. this isn't a fannie and freddie problem anymore. what we need to do is have programs in place to make it safe to invest in mortgages again. cheryl: where do you think that mortgage rates go by the end of the year? we're at all-time lows. 3 1/2, 3.3%. >> the people projecting these things say we're going to be at 4% or higher by the end of the year but the rates keep going down. it really is hard to kind of get your hands around a moving target. cheryl: you would know. you would know. thank you very much, rick. a good word of caution from you. thank you very much. well, if you were looking for a bigger housing fix, tune in on friday for our network wide special on the business of housing. i'm going to have an all-star panel with me for the entire noon hour and we want to hear your best and worst real estate experiences. send us your tweets. they may show up throughout the day so tweet us, we'll put you on tv. west coast minute, the top prize that california cities are
>> i think what we need is a regulatory environment that makes it safe for private capital to come back into the market. this isn't a fannie and freddie problem anymore. what we need to do is have programs in place to make it safe to invest in mortgages again. cheryl: where do you think that mortgage rates go by the end of the year? we're at all-time lows. 3 1/2, 3.3%. >> the people projecting these things say we're going to be at 4% or higher by the end of the year but the rates...
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May 6, 2013
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the dynamics of a multiple expansion environment. we have seen that sentiment and momentum have changed significantly. so our investors in this world either, a,figgering out they're not going to get much out of fixed income and cash or are they going up the risk curve and understanding that the way to beat modest inflation and hit their vote over a long time is risk asset. >> you do have clients that who have not been exposed to equities, saying i want in? or you've had those who are hedged, i don't want to be hedged, i want all in? >> we've got institutionals, retailers. depending on what their trying to accomplish. a common question is, is it too late, have we waited too long. and the advice we've been giving is you want to have that strategic asset allocation. you want to be exposed over the bear market, up over 140% over the last four years. that gis you the opportunity to trim some winners from our perspective and may be more of a question of security selection and stock picking. where are valuations attractive, we're a fundamen
the dynamics of a multiple expansion environment. we have seen that sentiment and momentum have changed significantly. so our investors in this world either, a,figgering out they're not going to get much out of fixed income and cash or are they going up the risk curve and understanding that the way to beat modest inflation and hit their vote over a long time is risk asset. >> you do have clients that who have not been exposed to equities, saying i want in? or you've had those who are...
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does that make any sense to you in this environment? >> no. because the way to look at it is they look at everybody's individual personal situation. you could be worth $50 million, $10 million, you might be a doctor and very recurring revenue, you might be an entrepreneur. you have to look at the reason you're investing, what the goals are for the next 10, 15 years and base odd that, you could do 100% equity peps we have clients who are 80 years old and -- >> my grandfather died in his 90s with a hundred percent equities. >> because of where bonds are, you would fundamentally change what you would normally recommend for people because bonds are at zero. the interest rate is zero. >> thank you for articulating this better than i can. >> no, but i'm just saying, know your clients, but this is a time where you should be de-emphasizing -- >> absolutely. you say, look, if you need something on the side, we'll give you some low duration bonds or cash, that's your safety net. but equity will be the place to be for the next three to five years. >> so
does that make any sense to you in this environment? >> no. because the way to look at it is they look at everybody's individual personal situation. you could be worth $50 million, $10 million, you might be a doctor and very recurring revenue, you might be an entrepreneur. you have to look at the reason you're investing, what the goals are for the next 10, 15 years and base odd that, you could do 100% equity peps we have clients who are 80 years old and -- >> my grandfather died in...
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if you look at what it's done in the last 52 weeks, it's up in a total return environment. >> do you think it can do that again sflp. >> i don't know if it can do exactly that, joe. it can have a decent performance this year. and i think more of the risk is when people ta don't understand high yield get into story credits. so they're going down into the triple cs and maybe their asset allocating there without doing all the due diligence. and i agree with rob to a certain degree. that the real risk here is what i call the 500,000 number. and it's when we wake up one day and we have a jobs report that's 500,000 instead of what we were speccing, 200,000. >> that's a quote from me, i'm not betting on that anytime soon. >> me in, neither. >> rob, what are your favorite stocks? just to play the fracking phenomenon, what your favorite stocks? >> i like innovation in transportation today. tesla industry webs that's one of our favorite stocks. >> what is it? >> tesla, you know, the elon musks company. i think this is a game changer industry. and tesla has proven to have the goods. and i think
if you look at what it's done in the last 52 weeks, it's up in a total return environment. >> do you think it can do that again sflp. >> i don't know if it can do exactly that, joe. it can have a decent performance this year. and i think more of the risk is when people ta don't understand high yield get into story credits. so they're going down into the triple cs and maybe their asset allocating there without doing all the due diligence. and i agree with rob to a certain degree....
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longer term view but we have to pay a premium to the market, we're looking 15 times multiple in an environment where the economy is growing earnings, are growing, maybe two, 3%. so valuations feel full. lori: okay. so in other words if you're looking at just traditional investment versus alternative investment obviously which is what the blackstone group specializes in, this is your claim to fame, to the tune of $218 billion under management, correct? >> that's correct. lori: there are more opportunities in alternative investment. if we look at your track record and the news headlines you generated over the last couple weeks. first before we get into the specifics of that, give me a sense what kind of private equity deals or alternative invests are hot right now, types of deals, the size, whether or not there are a lot of bidding wars going on? >> sure. when there is a lot of liquidity available and interest rates are very low that tends to drive pricing up. and so absolutely there is fierce competition for deals and so we focused in different areas. i'll run through them. but in private equit
longer term view but we have to pay a premium to the market, we're looking 15 times multiple in an environment where the economy is growing earnings, are growing, maybe two, 3%. so valuations feel full. lori: okay. so in other words if you're looking at just traditional investment versus alternative investment obviously which is what the blackstone group specializes in, this is your claim to fame, to the tune of $218 billion under management, correct? >> that's correct. lori: there are...
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it's a tough environment for our customers and citizens. we're working really hard at protecting people and their information. >> good morning. we're live here at post 9 of the new york stock exchange. the dow is almost exactly flat at 15,056. down just one-tenth of a point here, of course, as we crashed into positive territory earlier this morning. we continue to watch the dow at record levels above 15k. s&p is up to 1,628. and the nasdaq is up. jc penney reporting another quarter of weakening sales. they did report cash levels higher than expected. and from the clothing shelf to the grocery shelf, whole feeds by 3 # cents. revenue is in line. the company is announcing a two for one stock split. let's get the road map for the last hour. coke is pledging to help combat obesity. find out if that could help keep shares healthy as well. we'll get richard fisher's latest thoughts on monetary politician, inflation and more. plus, something it's not been able to do in nearly a decade, return $100 billion to shareholders. we'll start tw the dow co
it's a tough environment for our customers and citizens. we're working really hard at protecting people and their information. >> good morning. we're live here at post 9 of the new york stock exchange. the dow is almost exactly flat at 15,056. down just one-tenth of a point here, of course, as we crashed into positive territory earlier this morning. we continue to watch the dow at record levels above 15k. s&p is up to 1,628. and the nasdaq is up. jc penney reporting another quarter of...
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May 10, 2013
05/13
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people are concerned the competitive environment in online travel is intensifying. requiring them to send more money on advertising, lowering margins. those are two concerns on the stock. >> should we be looking at priceline on the fundamentals, in terms of what's going on in the economy, what's going on in the travel market, or is it a competitive problem with their technology? by the way, they still have to integrate kay yaak, which they t purchased but they haven't closed yet. >> yes, that will close in may. we consider this a very good asset. fundamentally, 25% to 30% sustainable grower with international exposure. it's not great to be he can posed to europe these days but 80% of profits generated out of international markets is a good thing for this company. they execute well in hotels, building out rental cars business. one of the best management teams in internet space and you can get this for 15 times next year's earnings. it's also one of the best value plays. >> diller on the show coming up, chairman of expedia. >> we compare priceline to expedia. sometime
people are concerned the competitive environment in online travel is intensifying. requiring them to send more money on advertising, lowering margins. those are two concerns on the stock. >> should we be looking at priceline on the fundamentals, in terms of what's going on in the economy, what's going on in the travel market, or is it a competitive problem with their technology? by the way, they still have to integrate kay yaak, which they t purchased but they haven't closed yet. >>...
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May 13, 2013
05/13
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in public environments they put cameras in place. then they are programmed in a way if someone leaves a bag unattended that will give an alert signal and the authorities can come in and inspect it. >> in the aftermath of the bombing, are you seeing or do we know if there are huge sales of this product? >> there is clearly an uptake particularly as people get more comfortable with the privacy issues. >> who competes? are there other companies that aren't as good? >> this is a business relatively consolidated. the other is derrick, which is not company we happen own. technology is very much at a favorite at the bottom. balance sheets extraordinarily strong. we believe it's growing and has secular tail winds. >> covanta? >> sure. covanta takes garbage and turns it into electricity. look at it as green play. we think they are irreplaceable assets, located along the northeast of the united states where there's barriers to entry. very large facility in the uk. therefore they have a tremendous amount of free cash flow that they will have to
in public environments they put cameras in place. then they are programmed in a way if someone leaves a bag unattended that will give an alert signal and the authorities can come in and inspect it. >> in the aftermath of the bombing, are you seeing or do we know if there are huge sales of this product? >> there is clearly an uptake particularly as people get more comfortable with the privacy issues. >> who competes? are there other companies that aren't as good? >> this...
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May 7, 2013
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you were no stranger to creating a new business in what is obviously a tough cutthroat tech environment. >> yeah. >> what would you say the secret is right now to all the entrepreneurs out there who wish they were doing what you're doing? >> my brother and i started jibjab 14 years ago. you just have to see -- you have to have a vision, and you have to stick to it. and you have to change and evolve all the time. and today we're very lucky. we've kind of kept our nose to the grindstone. we've got 50 amazing and talented people working with us and excited to be pushing with jibjab and storybots together. >> jibjab, of course, backed by big names in venture capital, polaris, overbrook, sony. raised $18 million. you make money. what was the thinking in terms of bringing in partners versus retaining some sort of autonomy amongst yourselves? >> oh, yeah. i mean, the partners really helped us scale the business faster than we could if we were dependent on our own revenue. we were in business 6 1/2 years before we raised money. and as you mentioned, as a former investment banker, i didn't want
you were no stranger to creating a new business in what is obviously a tough cutthroat tech environment. >> yeah. >> what would you say the secret is right now to all the entrepreneurs out there who wish they were doing what you're doing? >> my brother and i started jibjab 14 years ago. you just have to see -- you have to have a vision, and you have to stick to it. and you have to change and evolve all the time. and today we're very lucky. we've kind of kept our nose to the...